FHLC vs. NIXT
FHLC (Fidelity MSCI Health Care Index ETF) and NIXT (Research Affiliates Deletions ETF) are both exchange-traded funds - FHLC is a Health & Biotech Equities fund tracking the MSCI USA IMI Health Care Index, while NIXT is a Mid Cap Value Equities fund tracking the Research Affiliates Deletions Index. Both are passively managed. Over the past year, FHLC returned 16.58% vs 35.29% for NIXT. A 0.53 correlation means they provide meaningful diversification when combined. FHLC charges 0.08%/yr vs 0.09%/yr for NIXT.
Performance
FHLC vs. NIXT - Performance Comparison
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Returns By Period
In the year-to-date period, FHLC achieves a 0.03% return, which is significantly lower than NIXT's 20.40% return.
FHLC
- 1D
- -0.13%
- 1M
- 5.86%
- YTD
- 0.03%
- 6M
- 0.58%
- 1Y
- 16.58%
- 3Y*
- 7.18%
- 5Y*
- 4.76%
- 10Y*
- 9.76%
NIXT
- 1D
- 0.85%
- 1M
- 4.68%
- YTD
- 20.40%
- 6M
- 17.28%
- 1Y
- 35.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FHLC vs. NIXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FHLC Fidelity MSCI Health Care Index ETF | 0.03% | 15.42% | -9.88% |
NIXT Research Affiliates Deletions ETF | 20.40% | 4.94% | 4.60% |
Correlation
The correlation between FHLC and NIXT is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2024 | 0.53 |
The correlation between FHLC and NIXT has been stable across timeframes, ranging from 0.49 to 0.53 - a consistent structural relationship.
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Return for Risk
FHLC vs. NIXT — Risk / Return Rank
FHLC
NIXT
FHLC vs. NIXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Health Care Index ETF (FHLC) and Research Affiliates Deletions ETF (NIXT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FHLC | NIXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.26 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 2.76 | -1.21 |
| Martin ratioReturn relative to average drawdown | 3.86 | 9.35 | -5.49 |
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Drawdowns
FHLC vs. NIXT - Drawdown Comparison
The maximum FHLC drawdown since its inception was -28.76%, roughly equal to the maximum NIXT drawdown of -27.75%. Use the drawdown chart below to compare losses from any high point for FHLC and NIXT.
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Drawdown Indicators
| FHLC | NIXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.76% | -27.75% | -1.01% |
Max Drawdown (1Y)Largest decline over 1 year | -10.38% | -11.71% | +1.33% |
Max Drawdown (3Y)Largest decline over 3 years | -16.87% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.73% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -28.76% | — | — |
Current DrawdownCurrent decline from peak | -3.15% | -0.62% | -2.53% |
Average DrawdownAverage peak-to-trough decline | -5.19% | -5.89% | +0.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.16% | 3.46% | +0.70% |
Volatility
FHLC vs. NIXT - Volatility Comparison
The current volatility for Fidelity MSCI Health Care Index ETF (FHLC) is 4.87%, while Research Affiliates Deletions ETF (NIXT) has a volatility of 5.32%. This indicates that FHLC experiences smaller price fluctuations and is considered to be less risky than NIXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHLC | NIXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.87% | 5.32% | -0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 10.50% | 14.26% | -3.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.69% | 21.30% | -6.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.02% | 23.23% | -8.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.84% | 23.23% | -6.39% |
FHLC vs. NIXT - Expense Ratio Comparison
FHLC has a 0.08% expense ratio, which is lower than NIXT's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FHLC vs. NIXT - Dividend Comparison
FHLC's dividend yield for the trailing twelve months is around 1.37%, more than NIXT's 1.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHLC Fidelity MSCI Health Care Index ETF | 1.37% | 1.40% | 1.51% | 1.40% | 1.30% | 1.16% | 1.45% | 1.18% | 1.38% | 1.38% | 1.40% | 2.07% |
NIXT Research Affiliates Deletions ETF | 1.33% | 1.64% | 1.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FHLC and NIXT have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NIXT has higher volatility (5.32%) compared to FHLC (4.87%). In terms of maximum drawdown, FHLC dropped -28.76% vs NIXT's -27.75%.
On 1-year performance, NIXT leads with 35.29% vs 16.58% for FHLC. On fees, FHLC is cheaper at 0.08% per year. On volatility, FHLC has been the lower-risk option at 4.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NIXT has performed better with a 35.29% return vs 16.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FHLC is cheaper with a 0.08% expense ratio, compared with 0.09% for NIXT.
FHLC has the higher dividend yield at 1.37%, compared with 1.33% for NIXT.
FHLC is categorized as Health & Biotech Equities, while NIXT is Mid Cap Value Equities. FHLC tracks MSCI USA IMI Health Care Index, while NIXT tracks Research Affiliates Deletions Index. They also come from different issuers: Fidelity and Research Affiliates. Their fees differ too: 0.08% for FHLC and 0.09% for NIXT.
NIXT currently has the higher Sharpe Ratio (1.52 vs 1.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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